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coins-and-candy · 2 years
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Kazakhstan Expects $1.5 Billion From Crypto Mining in 5 Years, Estimates Suggest
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coins-and-candy · 2 years
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Ethereum Sets New All-Time High at $4,400
Days after Bitcoin recorded a new all-time high of $66,990, Ethereum has hit its own new milestone. The second-largest cryptocurrency by market ca sliced through its previous peak to reach a new record high at $4,400 early Friday, before a slight cool-off. Now, it appears to be looking for further gains.
The $4,000 resistance level breach on Oct. 20 marked a pivotal point on Ethereum’s trend as it confirmed the beginning of a new bull run. Overcoming this crucial hurdle signaled a breakout from a cup and handle formation that had been developing on ETH’s daily chart since mid-May.
Ethereum has had several catalysts behind its upward momentum this year, including a boom in the nascent NFT space and the launch of its EIP-1559 fee burning proposal. Since EIP-1559 shipped in August, around 670,000 ETH worth nearly $3 billion has been removed from the overall supply.
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coins-and-candy · 2 years
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coins-and-candy · 2 years
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Metaverse Tokens Are Soaring on Facebook’s Rebrand News
Crypto investors are rushing to buy into the Metaverse.
Several Metaverse-focused crypto projects have rallied following Facebook’s rebranding announcement. The Big Tech giant revealed it would be changing its name to “Meta” Thursday, explaining that it will switch its focus from traditional social media towards building out the Metaverse.
“Our mission remains the same, it’s still about bringing people together,” Facebook CEO Mark Zukerberg said in a 90-minute presentation on the company’s future. “We are still the company that designs technology around people. But now we have a new North Star: to help bring the Metaverse to life.��
While several projects have rallied on the news, the virtual world Decentraland is currently leading the charge, with the game’s MANA token rising more than 46% since the announcement.
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coins-and-candy · 2 years
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Kadena Announces Partnership with Coinmetro to Enter Ethereum
Kadena recently announced a partnership with Coinmetro to enter the Ethereum network. The venture will officially support wKDA (Wrapped Kadena), backed 1:1 with Kadena.
Besides joining hands with Coinmtero, Kadena is entering the Ethereum blockchain to connect multiple assets to the network. Kadena previously announced that Wrapped BTC on Kadena will soon be available on the network. It will act as a precursor of network connection to multiple chains.
Kadena is one of the best blockchain networks with a Layer 1 scalable proof of work mechanism. The network also boasts of Pact, a user-friendly and secure smart contract technology. It aims to resolve the security and scalability issues faced throughout the blockchain industry.
That is why Kadena provides an ecosystem and tools to produce DeFi-based applications to NFT marketplaces. Its PoW mechanism gels well with the goal of solving Layer 1 scalability issues. The network braids multiple chains together, connecting 10 new chains in 2020 alone.
Kadena’s efforts to showcase its production scalability helped the network gain 10 chains amid a dire market setting. It is actively working to become the ideal proof of work settlement layer required for mass blockchain adoption.
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